Statistical significance refers to the claim that a result from data generated by testing or experimentation is likely to be attributable to a specific cause. The fixed level of Probability of Type 1 error is called level of significance. It is fixed before the data are collected.
The obesrved level of significance is minimum lecel of significance at which Null hypothesis(H0) is rejected for the given data
The Researcher simply reports the P-value for the data observed . If onwards to keep level of significance below P-value, Ho would be accepted. If he to keep level of significance above the P-value then Ho would be rejected
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